Mr. Speaker, I yield myself such time as I may consume. I want to thank my colleague for yielding me the customary 30 minutes, and I rise today in opposition to the rule and the bill. Mr. Speaker,…
Mr. Speaker, I yield myself such time as I may consume.
I want to thank my colleague for yielding me the customary 30 minutes, and I rise today in opposition to the rule and the bill.
Mr. Speaker, what exactly are we doing here? We could be talking about creating jobs for the middle class. We could be talking about a payroll tax cut extension. We could be talking about corporate tax reform, individual tax reform, and most importantly, we could be talking about solving the national deficit, about reducing government spending, about solving the deficit issue.
But, instead, we're here playing this game of Kabuki theater. Rather than pursuing an agenda that isn't a Democratic or Republican agenda, but an American agenda that both sides all can agree on, we're here playing a counterproductive and absurd game. In fact, not only playing a game, we're replaying a game.
We all remember the debt debacle last August that almost shut down Federal Government and led to a downgrade, potentially increasing interest rates and costing the government billions or hundreds of billions of dollars more in interest payments. For the first time in history, Standard & Poor's downgraded our country's credit rating, citing brinksmanship and political gridlock as motivating factors for their decision.
Look, this is all Monday night quarterbacking. It's after the fact. The money has been spent. The money has been spent, and 147 Republicans voted in December to spend $915 billion in the appropriations bill, the omnibus appropriations bill, 147 Republicans, $915 billion, all of which was deficit spending. One hundred forty-seven Republicans spent $915 billion in deficit spending December 17th. That's a Christmas shopping spree, and now the credit card bill has come in January, and here they are saying we don't want to pay that credit card bill.
The answer, Mr. Speaker, is not to spend the money if you're not going to make good on your bill. Every American family knows that. Once the money's spent it's after-the-fact political finger pointing, not looking to a solution for a deficit problem.
And the Republicans have not put a solution on the table. Even the House Republican budget, the Paul Ryan budget that ends Medicare, creates $5.1 trillion in deficit spending over the next 10 years, $5.1 trillion in deficit spending. How many times will the Republicans have to raise the debt limit to have a deficit of $5.1 trillion?
This Congress and the majority of this Congress on the Republican side are addicted to spending, Mr. Speaker, and until they are willing to entertain a real discussion--and the President of the United States, President Obama, has led the way by convening a commission, the Bowles- Simpson Commission, to try to take a bipartisan approach to actually solving the deficit situation. But rather than bringing any of those bills before the House, the Republicans passed the budget that not only ends Medicare but leads to $5.1 trillion in deficit spending and as recently as December 17th, spent $915 billion of deficit spending, the entire deficit for this year, essentially, around December 17th, because we had already spent the money that actually came in. And here they are in January, Mr. Speaker, saying they don't want to pay the bills.
I reserve the balance of my time.
Will the gentleman yield?
I yield myself 30 seconds.
Mr. Speaker, the gentleman from South Carolina complained about the President's budget, he complained about a lack of budget in the Senate. What he failed to acknowledge is that the budget the Republicans adopted in this body without a single Democratic vote not only ends Medicare, but leads to $5.1 trillion in deficit spending over the next 10 years, several times the deficit over the last 10 years; $5.1 trillion, a larger deficit spending than this country has ever had in a 10-year period, was supported and voted on and enacted by the Republicans in this House.
Mr. Speaker, I am proud to yield 3 minutes to the gentleman from New Jersey (Mr. Andrews).
(Mr. ANDREWS asked and was given permission to revise and extend his remarks.)
I yield the gentleman an additional 30 seconds.
Before further yielding, I yield myself a minute.
Mr. Speaker, to hear the other side, they doth protest too much. Why does a party for whom 147 Members voted to spend $915 billion, causing the deficit, which is roughly a trillion dollars in size, essentially that $915 billion that they spent on their Christmas spending spree was the deficit, now they're complaining about it?
And since the gentleman from South Carolina wasn't kind enough to yield to me, I'd like to ask him on my own time, the gentleman referred to whether or not ending Medicare was true, and obviously there's been a vital discussion about that, but the other assertion that I made is a very factual one, and I just want to confirm with the gentleman that the Paul Ryan Republican budget that the Republicans passed did indeed contain $5.1 trillion of deficit spending. Is that your understanding as well? Is that true?
I yield to the gentleman from South Carolina for an answer.
I yield myself an additional 30 seconds.
The 10-year figure for that deficit from the CBO itself, $5.1 trillion in deficit spending. And again, the same Republicans who spend $915 billion here in December are again saying now that the credit card bill has come due, they somehow don't want to pay it.
With that, Mr. Speaker, I would like to yield 3 minutes to the gentlewoman from Texas (Ms. Jackson Lee).
I yield the gentlewoman an additional 30 seconds.
Mr. Speaker, I yield myself 30 seconds before further yielding.
Every Republican that has spoken on this issue voted for a budget that included $5.1 trillion in deficit spending over a decade, more deficit spending than any 10-year period in the history of our country. They also, as part of that budget, voted for raising the debt ceiling by $8.8 trillion. They voted to do it, Mr. Speaker. They voted to raise the debt ceiling from $14.3 trillion to $23.1 trillion by 2021. Yes, Mr. Speaker, every Republican in this body, except for four, and zero Democrats, voted to double the national debt over the next 10 years.
I'm proud to yield 2\1/2\ minutes to the gentleman from Virginia (Mr. Connolly).
Again, the Republicans doth protest too much. If there is concern about the budget deficit, why did every Republican who has spoken here today--every Republican except for four--vote to double our national debt over the next 10 years? Why has every Republican here voted for a budget that included $5.1 trillion in deficit spending, more deficit spending than this country has ever had in a 10-year period?
I certainly hear complaints about President Obama and others. The President can't spend a penny--a penny--without congressional approval. So if the Republicans are concerned about the budget, why did they go on a Christmas spending spree where 147 Republicans voted to spend over $900 billion, every penny of it deficit spending? This makes no sense, Mr. Speaker.
Let's address this budget deficit, as President Obama has charged us to do with the Bowles-Simpson Commission. Let's undertake a bipartisan approach to solve the deficit. This Nation shouldn't have a $5.1 trillion deficit, as the Republicans have voted on and passed. This body should not spend enough money to double the national debt by the year 2021, which every Republican except for four has voted for.
Let's get to work, Mr. Speaker. This is all fun and games, but the country is burning while we continue to work to solve this issue and avoid the hard ones.
I reserve the balance of my time.
Mr. Speaker, I would like to ask my friend from South Carolina if he has any remaining speakers.
You know, Mr. Speaker, sometimes it seems like we're arguing about a different bill in this Chamber. Many of those who have spoken on the other side have risen to attack government spending; and yet they voted for a budget with a $5.1 trillion deficit over a 10-year period, a bigger deficit than this Nation has ever had. Many of them also voted to spend $915 billion December 17th on their Christmas shopping spree, all deficit spending. And now they're complaining about a deficit that their votes caused.
Let me assure you of something, Mr. Speaker. This Nation pays its bills. Families across America pay their bills. When families spend too much on Christmas gifts, the answer is not to not pay your credit card bill in January. The answer is to cut back on spending. That's what families across America know. That's what this Congress needs to know. That's common sense.
Every Republican in this body, except for four, voted for a budget that called for specifically raising the debt ceiling from $14.3 trillion to $23.1 trillion. The House Republican budget voted to double the national debt over the next 10 years.
We can and we must do better, Mr. Speaker. Let's get past these games and begin a real discussion about reining in the national deficit and starting to pay down our national debt.
I reserve the balance of my time.
I yield myself such time as I may consume.
Mr. Speaker, I want to quote from an article in The Hill. My friend and colleague Mr. Mulvaney from South Carolina said that this entire procedure ``is just a fig leaf for some Republicans to say they are against more debt, even though they essentially approved it.''
That's what we know this to be. This money has been spent. It's out the door. My colleague, Mr. Mulvaney from South Carolina, agrees and has put it into the Record. Even the budget from the Republican Study Committee, which the gentleman cited, calls for specifically raising the debt ceiling by $5.6 trillion, increasing the national debt by a third. That's not the answer.
The President has led the way through the creation of the Simpson- Bowles Commission and their hard, bipartisan work to come up with a way to reduce the national deficit. The Republican Study Committee budget, the Paul Ryan budget, all of the budgets that the Republicans brought before the House increase the deficit substantially, more so than any Congress has in the history of this entire country.
I reserve the balance of my time.
Well, the gentleman from South Carolina didn't give me a chance to answer the question that he posed to me. He said, what's rich and what's fair?
What I and many others have proposed is that people making over $1 million a year in income is who we're talking about, not people with a net worth of 2 or 3 million or less, but people who have an income, make $1 million or more a year in income, and the tax rate would go from 35 to 39.6 percent, a 4\1/2\ percent increase. That's what we're talking about as part of a comprehensive package. That's in the bipartisan Bowles-Simpson package, that's in the bipartisan Gang of Six package. That's some of the revenue that, along with cuts and entitlement reform, are part of the solution to this issue.
Rather than bellyaching and complaining about having to do what Republicans themselves have said they
were going to do in the Ryan budget and the Republican Study Group budget that's doubled the deficit--Republicans committed to doubling the deficit. I didn't support that. I voted against those bills. But Republicans promised to double the deficit. I opposed that. But here they are, now that they're doing the spending that they did, their massive spending spree in December, their budget that doubles the size of the national deficit, and here they are bellyaching, after spending all that money, that they don't want to pay the bill.
Well, that's immature, Mr. Speaker. Let's rein in the spending, rather than not make good on the full faith and credit of the United States of America.
I reserve the balance of my time.
Well, finally, Mr. Speaker, we have some bipartisan agreement. My colleague from Louisiana called this vote a sham. My colleague from South Carolina called this a fig leaf to disguise excess Republican spending. I think we have agreement on those basic concepts. Whether you call this a sham or a fig leaf, this bill, this process that the Republicans have put before us doesn't do a thing to solve the deficit, doesn't do a thing to rein in the national debt. It only perpetuates this Congress' addiction to spending, Mr. Speaker.
By somehow pretending to say that we're doing something by making a fuss over whether we're going to make good on the full faith and credit of what we've already spent, rather than just not spend it in the first place, Mr. Speaker, we're misleading the American public into thinking that this Congress is tackling the national debt and the deficit, when all we're doing, as my friend from Louisiana said, is simply a sham.
I reserve the balance of my time.
I am prepared to close as well. I ask the Speaker how much time remains.
I yield myself such time as I may consume.
Mr. Speaker, Americans are urging both parties, Republicans and Democrats, to work together to solve the basic challenges that this country faces, joblessness, a tax code that rewards those with well- connected lobbyists rather than hardworking Americans, and yes, to solve the budget deficit and budget crisis and ensure that we don't leave a legacy of debt for our children.
And yet, we will deal with none of these issues today, none of these issues in the 2 days the Republican majority has scheduled us to work this week, amidst the biggest national recession since the Great Depression. And each time that President Obama and Democrats have sought consensus on these issues, the majority have bowed to radical elements within their party that insist on an agenda that is far outside the American mainstream and will lead to doubling the national debt over the next 10 years.
Time and time again, we've seen the Republicans choose gridlock over problem solving. We saw this most recently when the House Republicans refused to allow a vote on the bipartisan compromise to extend the payroll tax break.
You know, the American people are tired of political games. They want action rather than rhetoric; they want progress rather than partisanship. And with today's move, the Republicans are again playing the dangerous game of signaling to the world that America might not pay its debt, might not make good on the very money that the Republicans voted to spend in December.
At a time when Standard & Poor's has moved to downgrade nine European countries' ratings, the last thing our Nation can afford is a risk of default. If we are further downgraded, Mr. Speaker, it would likely lead to an increase in the rate that we have to pay to finance our national debt. This would, in fact, increase the national debt even more than the Republicans want to increase the national debt--by $5.1 trillion.
Yes, that very same Paul Ryan budget that ends Medicare as we know it and has $5.1 trillion of deficit spending could have $10 trillion or $20 trillion of deficit spending if the Republicans succeed in jeopardizing our credit rating by playing games with the full faith and credit of the United States of America.
Like millions of responsible Americans, our Nation knows that we must make good on our obligations. Every minute that we waste debating this--I'll use what the other side has called it--debating this sham, the gentleman from Louisiana, this fig leaf, the gentleman from South Carolina, every minute we waste debating this underlying rule and bill is a minute that could have been spent enacting practical, substantial legislation to end the budget deficit, to right the fiscal course of this Nation, and put our country back on the road to economic recovery.
I strongly urge a ``no'' vote on the rule and the underlying bill.
I yield back the balance of my time.
Mr. Speaker, on that I demand the yeas and nays.